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Oecd Says Uk Will Be Fastest Growing G7 Country In Q3

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Growth in the UK will outpace all other G7 nations in the third quarter, according to the Organisation for Economic Co-operation and Development.

The OECD upgraded its UK forecast to 0.7pc growth in the third quarter, compared with the second, from an earlier forecast in May of 0.5pc.

That would be slower than the 1.2pc growth achieved in the UK in the second quarter, according to Office for National Statistics figures, but stronger compared with the OECD's forecasts for the US, Japan, Germany, France, Italy and Canada.

The OECD downgraded its forecast for UK growth in the fourth quarter, to 0.4pc from 0.5pc, as it warned the global recovery was slowing faster than previously anticipated amid greater uncertainty. However, a global double-dip recession was "unlikely", it said.

A Treasury spokesman said: "The OECD's latest forecasts have the UK growing faster than any country in the G7 this quarter and second fastest next quarter, at rates broadly in line with the Office for Budget Responsibility's Budget forecast."

The report concluded that countries with "more fiscal space" could delay austerity measures, but gave backing to UK measures.

"The fiscal situation in the UK deteriorated particularly sharply during the recession, making correction as planned both desirable and necessary," said Luiz de Mello, an economist at the OECD.

Yippee we are all saved, we have been delivered from the jaws of bankruptcy to the world of perpetual growth.

However who supplied the OECD with the numbers for the forecast was it the Treasury?

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Growth in the UK will outpace all other G7 nations in the third quarter, according to the Organisation for Economic Co-operation and Development.

That's somewhat of a headshot for those calling for more ZIRP and QE2.

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Fastest growing, perhaps.

But to misquote an inappropriate joke, beating other countries in the EU is like running in the Special Olypmics.. Even if you win, you're still retarded.

To quote Tropic Thunder, we are going 'Full Retard'?


Edited by Tonkers
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  • 440 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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